Timestamps:

4:00 - What’s a data breach?

10:21 - What’s a phishing campaign?

13:50 - How expensive is it to fix a data breach? 

20:35 - How are startups being targeted?

22:07 - Why strong passwords are not enough

This episode was co-produced by NordPass. Use code “swisspreneur” at checkout to get 30% off Business and Teams plans.

This episode was sponsored by Relai. Get started with Bitcoin by downloading the Relai app today, and profit from 10% less fees by entering code SWISSPRENEUR at checkout.

(Disclaimer: Relai services are exclusively recommended for Swiss and Italian residents.)

About Ieva Soblickaite:

Ieva Soblickaite is the CPO of NordPass, a password management solution that is part of Nord Security, the world’s leading cybersecurity company. She holds a Masters from HEC Paris and co-founded Medigo GmbH before joining NordPass in 2021.

During her chat with Merle, Ieva broke down the topic of cybersecurity into easily digestible, actionable chunks:

What’s a data breach?

A data breach occurs whenever confidential data is accessed and used in some way (disclosed, copied, altered, destroyed). Common malicious uses include trading the data on the darkweb, decrypting the data to demand a ransom payment, and identity theft. 

What’s malware?

Malware is any software developed with the express intent of causing harm. Examples include viruses, trojans, spyware, ransomware, etc. It can also completely take over a computer, putting the criminal in complete control.

Common types of malware:

• Ransomware: type of malware that prevents users or organizations from accessing their files. Hackers demand payment to restore access.
• Adware: type of greyware (since it does not necessarily have to be malicious) that displays ads to certain users. These ads can be unwanted or malicious.
• Spyware: malware that secretly monitors and collects information about a user’s activities or devices, usually as the first step before another type of attack.

Another well-known type of cyberattack are phishing campaigns, in which a hacker pretends to be someone the user knows, or an entity that they trust, in order to get them to click on a malicious link, which can download malware or take the user to a fake website where sensitive information will be requested.

On average, a cyberattack occurs every 14 seconds, and the cost of fixing it depends on how quickly the user notices it and how quickly they act. On average, users will take 204 days to notice a cyberattack and another 73 days to contain the breach.

In order to prevent an attack, several components are necessary:

• Strong passwords
• Multifactor authentication
• Limiting access to accounts & regularly reviewing who has access
• Anti-virus software
• Regular vulnerability assessments

Hackers target big and small companies alike, as well as both famous and anonymous people, so it’s safest to start improving the cybersecurity of your professional and personal accounts now.

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